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The dollar snapped its down trend and we saw a continuation and holding of the ascending trend line to end last week.
We also ended the week with an inside day with the Fridays complete range fully engulfed in the Thursdays candle body.
Fridays close with a big bullish body inverted hammer tells me that bulls have taken control so my initial thoughts are dollar longs.
if we break above the key price zone which I expect then I will expect prices up to 95.90 and then as high as 98 barring fundamental data that changes the course of the dollar. This supports my bias on GBPUSD which is currently short.
We also ended the week with an inside day with the Fridays complete range fully engulfed in the Thursdays candle body.
Fridays close with a big bullish body inverted hammer tells me that bulls have taken control so my initial thoughts are dollar longs.
if we break above the key price zone which I expect then I will expect prices up to 95.90 and then as high as 98 barring fundamental data that changes the course of the dollar. This supports my bias on GBPUSD which is currently short.
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